Dry Bulk Weekly – August 8, 2010

Baltic dry index rose 3.2% last week; Capesize Index gained 14.2%; Panamax Index fell -1.2%; Handysizes and Supramax Indexes gained -3.6% and -1.6% respectively.

Positive recent developments: Russia grain export ban – increasing ton-mile relation; India imposing additional iron ore export tariffs – also increasing ton-mile relation; improved China steel prices and reduced China steel stockpiles.

Negative recent developments: All time iron ore stockpiles in China ports, still unfavorable steel mill margins.

And the new-buildings just keep on coming to the market.

Chart 1. Baltic Dry Indexes Relative Performance

Source: Bloomberg

Chart 2. Baltic Dry Index

Source: Bloomberg

Chart 3. Baltic Dry Index Components

Source: Bloomberg

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This entry was posted on Sunday, August 8th, 2010 at 2:28 pm and is filed under China, Commodities, Dry Bulk Weekly. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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